What PCAOB inspectors are looking for
Compliance with new transparency rules and preparation for new accounting standards targeted
|Wednesday, August 30, 2017|
By Ken Tysiac, Journal of Accountacy
Compliance with new transparency rules and preparation for new accounting standards will be among the key areas of focus for PCAOB inspectors as they examine the work of auditors of public companies and other issuers.
In a staff inspection brief published Wednesday, the PCAOB provided details on what inspectors will be looking for. This year the PCAOB plans to inspect about 195 registered firms that audit public companies, including 11 that are subject to annual inspection. About 55 of the firms inspected this year will be non-U.S. firms hailing from 26 countries or jurisdictions.
Key areas of focus for the PCAOB will include: